Bridgewater Associates LP Has $8.93 Million Holdings in TEGNA Inc. (NYSE:TGNA)

Bridgewater Associates LP boosted its position in TEGNA Inc. (NYSE:TGNA) by 77.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,006 shares of the company’s stock after buying an additional 213,097 shares during the period. Bridgewater Associates LP’s holdings in TEGNA were worth $8,926,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in shares of TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in shares of TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after buying an additional 832 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA during the 4th quarter worth approximately $32,000. GAMMA Investing LLC grew its position in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after buying an additional 757 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in shares of TEGNA in the 4th quarter valued at $57,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

Shares of TGNA opened at $15.79 on Thursday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a 50 day moving average price of $17.57 and a two-hundred day moving average price of $17.67. The firm has a market capitalization of $2.54 billion, a P/E ratio of 5.58 and a beta of 0.25.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Friday, March 7th. TEGNA’s payout ratio is currently 14.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Guggenheim decreased their target price on TEGNA from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.